luxury brands Digital marketing and sales for What does the word "luxury" exactly mean? Majority of the people can identify a luxury product however, when it comes to describing the characteristics or qualities that give the product that luxurious feel it becomes hard for us to pin point them. The main reason behind this is the fact that every individual has his/her own perception of luxury; some might go for the quality or rareness while others might think of luxury in terms of comfort (Chevalier, and Mazzalovo, 2012).
Why do we take out our best suit when we have to attend a significant interview or meeting? Why do we ensure that we are wearing some good quality perfume rather than a cheap one while going out on a date? In case of luxury, self-indulgence concept is very closely related to socially directed motives (Chevalier, and Mazzalovo, 2012).
Since the start of civilization the luxury concept has been there in different forms. The role play by the concept of luxury was as significant in the ancient eastern and western societies as it is today in the modern societies. Due to the clear differences that were present among the social classes in the earlier civilizations, it was majorly the elite that consumed luxury in those times. Therefore, at that time luxury had a relatively clear definition. In those times luxury was identified as something that the elite had and the poor couldn't (Chevalier, and Mazzalovo, 2012).
There has been a continuous evolvement in the customers who buy luxury products and the meaning of luxury. But the drastic evolvement seen in the last 20 years has never been seen before. The rate at which the luxury sector is increasing in the world today is approximately 2 times the rate of the world's wealth. The main reason behind this much growth of the luxury sector is the increase in the number of potential customers (Chevalier, and Mazzalovo, 2012).
There is a unique aspect to the luxury goods' industry mainly because they have a very particular customer base and target market that they target with the help of promotions and marketing. This industry is also guarded very well and it is very hard to get any information regarding it. The products being manufactured by this sector do hold a certain amount of prestige and status and eventhough the market segment that can afford these products is very small but the huge number of people who are exposed to their advertisementshave hopes of one day being able to buy these products as well (Chevalier, and Mazzalovo, 2012).
This paper has a very topical theme in the light of the present scenario since today brand image, the services being provided by the brands and their performance has become very important to the brands as these factors are the key to not only attracting new customers but to achieve customer loyalty from the new and existing customers as well. Customers are the basis for the success or failure of any company or business therefore, today marketing plays a very important role in attracting and retaining customers and for these reasons companies are coming up with new marketing strategies everyday (Chevalier, and Mazzalovo, 2012).
The main purpose of conducting this study is to find out that in this digital age of marketing what are the methods that can help in winning the attention of customers. In accordance with this purpose the major objective of the study is to explore the methods which, in this age of digital marketing can help in attracting new customers (Chevalier, and Mazzalovo, 2012).
Background of the study
Promoting brands by making use of all kinds of digital advertising is known as digital marketing. Today, this includes mobile, Television, Internet, Radio and any other kind of digital media. The practice which is used in the promotion of services and products by using the digital distribution channels so that the customers are reached in a cost-effective, timely, personal and relevant manner is known as digital marketing.
Although there are a lot of practices and techniques that are a part of digital marketing which come under Internet Marketing but digital marketing goes beyond internet marketing. Therefore, it is because of this that there are a number of host elements through which products can be marketed with the help of the digital technology and without the requirement of Internet such as sms/mms, digital outdoor, mobile phones, display/banner ads (Danziger, 2005).
In the past digital marketing was seen more as a stand-alone service however, today it is seen more and more as a domain which covers majority - if not all - of the traditional areas of marketing like Direct Marketing as, it provides the...
Or those not willing to drop down to the mid-priced brands, more and more drugstores are trying to help ease the effect of rising prices by employing tactics such as money-back guarantees and heavy couponing. Tode (2010) went further to state that Yanke noted that Medic has offered a money-back guarantee in cosmetics for eight years and that it promotes the category heavily with advertising and coupons, but that
Digital World and Luxury Brands Why do companies need a digital marketing strategy? What is the importance of digital marketing strategy in a company? The simplistic answer is the loss of opportunities and business. Digital marketing strategy formulation helps in making informed decisions about ones foray into digital marketing arena and ensuring that all the hard work is focused towards the fundamentals of digital marketing, which happen to be the most pertinent
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